Demystifying SOC 2: A Must-Have Certification for Third-Party Providers

24 Aug Demystifying SOC 2: A Must-Have Certification for Third-Party Providers

Trusting sensitive customer data to a third party can feel a lot like handing over the reins of a critical component of your organization, but finding a provider with the right security certifications can offer you and your customers much needed peace of mind.

Previously, we took a close look at the advantages of DATAMATX’s HITRUST CSF certification, including the aspects of the framework that make it especially useful to organizations bound by HIPAA. In this post, we’re turning our focus to SOC 2—and the reasons DATAMATX’s advanced certification in this framework means you can trust us with your customers’ valuable data.

Q: What are the benefits of SOC 2 for my industry?

A: Certification in SOC 2, or Service Organization Control 2, involves a rigorous assessment of a service provider’s controls and practices related to data security and privacy. Specifically, SOC 2 encompasses five essential criteria: security, availability, processing integrity, confidentiality, and privacy. While these are valuable security criteria across all industries, organizations in healthcare, financial services and Software-as-a-Service (SaaS) may find this framework especially beneficial because of the way it not only keeps sensitive data secure but also makes it easily accessible by authorized parties.

Q: How did DATAMATX earn SOC 2 certification?

A: SOC 2 offers two types of certifications: Type I, which assesses security controls at a specific point in time, and Type II, which evaluates the effectiveness of these same controls over a longer period. DATAMATX has earned Type II certification in SOC 2, meaning we’ve undergone a meticulous process of showcasing our ongoing commitment to data security and operational excellence. Over a period of a year, we demonstrated the way we implement and maintain comprehensive security controls while undergoing rigorous assessments by independent auditors, ensuring we meet the highest security standards available.

Q: Why is SOC 2 a critical component of DATAMATX’s security profile?

A: DATAMATX views SOC 2 as a gold standard of data security. For one, this certification demonstrates our ability to maintain enhanced safeguards for all types of transactional documents, particularly those containing sensitive financial and personal information. SOC 2’s wide applicability also means we can demonstrate our compliance with a variety of strict regulatory frameworks, including HIPAA and GDPR. Finally, the rigorous audits of SOC 2 help us mitigate the risk posed to your organization by data breaches, downtime or data loss—allowing you to maintain uninterrupted operations while promoting consumers’ trust in your brand.

In a digital landscape fraught with security challenges, SOC 2 certification serves as a beacon of trust, particularly when choosing a third-party provider to handle your outsourced communications. For more about the rigorous standards that make DATAMATX a trusted outsourced provider, check out our recent Q&A about HITRUST CSF!